PALM BEACH, Fla.–(BUSINESS WIRE)–#BDIC–Palm Beach, Florida-based Blockchain Deposit Insurance Consultant Group LLC has announced the launch of its new international entity, Blockchain Deposit Insurance Corporation (BDIC), along with its official website, www.BDICinsurance.com. This venture aims to revolutionize cryptocurrency insurance by providing digital wallet insurance for preferred cryptocurrencies, ensuring security and trust in everyday financial transactions.
BDIC is establishing its headquarters in Bermuda, with affiliate offices in Switzerland, Hong Kong/Greater China, Canada, and South America. In the coming months, BDIC will pursue Lloyd’s of London coverholder status, a designation that will grant it specialized authority to assess and underwrite complex cryptocurrency risks. This will allow BDIC to develop robust insurance policies in collaboration with Lloyd’s syndicate members already servicing the industry.
CEO Jeffrey Glusman emphasized the growing recognition of cryptocurrency in the insurance sector:
“The traditional insurance industry is acknowledging the immense business opportunities in digital assets. Achieving Lloyd’s coverholder status will be a pivotal step in establishing a structured, reliable, and trusted insurance framework for the crypto market. BDIC is committed to ensuring financial security as global adoption of digital currencies accelerates. We will apply for Lloyd’s Coverholder status and announce our syndicate partner in the near future.”
BDIC will also announce its executive team and key hires, as well as third-party advisors focused on the technical development of BDIC’s decentralized application (DApp), go-to-market strategy, and building a community-driven ecosystem.
“This project will be part of our legacy,” Glusman said of the soon-to-be-announced leadership team. “By securing digital wallets, we provide the missing mental component for crypto adoption: safety. Trust and confidence in security are essential for cryptocurrency’s integration into daily life, and our team is ready to play a crucial role.”
BDIC’s launch represents a significant step in bridging traditional insurance with the crypto economy. The company’s two-tier algorithmic approach and rigorous underwriting process position it as a market leader. With first-to-market advantages at the retail level and a strong commitment to transparency, BDIC is poised to set new industry standards, ensuring greater trust and stability for digital asset holders worldwide.
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